College experience and success variables are those that occur in college and which the college, the borrower, or both have some ability to affect. These characteristics include college major, academic achievement, transfer status, educational goals of the student, financial support, and degree completion (Volkwein et al. 1998).

The reason for the correlation between college success and default behavior is unknown; however, it is possible that the hard work and responsibility that result in college success are established habits that carry over to other responsibilities in students’ lives, such as loan repayment. Also, borrowers who achieve success in college will most likely obtain better positions in the job market and be in a better position to repay their loans after they leave school (Steiner and Teszler 2003).